Insight Wealth Strategies LLC Has $5.33 Million Stake in American Express (NYSE:AXP)

Insight Wealth Strategies LLC lifted its holdings in shares of American Express (NYSE:AXP) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,636 shares of the payment services company’s stock after buying an additional 189 shares during the quarter. Insight Wealth Strategies LLC’s holdings in American Express were worth $5,325,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Waterloo Capital L.P. bought a new position in American Express during the 4th quarter worth approximately $231,000. Lighthouse Investment Partners LLC lifted its stake in American Express by 32.8% in the fourth quarter. Lighthouse Investment Partners LLC now owns 28,287 shares of the payment services company’s stock valued at $5,299,000 after buying an additional 6,987 shares in the last quarter. Cresset Asset Management LLC lifted its stake in American Express by 2.0% in the fourth quarter. Cresset Asset Management LLC now owns 73,343 shares of the payment services company’s stock valued at $13,740,000 after buying an additional 1,412 shares in the last quarter. Greystone Financial Group LLC lifted its stake in American Express by 525.4% in the fourth quarter. Greystone Financial Group LLC now owns 43,431 shares of the payment services company’s stock valued at $8,136,000 after buying an additional 36,486 shares in the last quarter. Finally, Icon Wealth Advisors LLC bought a new position in American Express in the fourth quarter valued at approximately $501,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AXP shares. Monness Crespi & Hardt lifted their price target on shares of American Express from $260.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Keefe, Bruyette & Woods lifted their price target on shares of American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. The Goldman Sachs Group lifted their price target on shares of American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Monday. Jefferies Financial Group boosted their price objective on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. lowered shares of American Express from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $268.00 to $286.00 in a research report on Monday. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $238.83.

American Express Price Performance

AXP traded down $6.02 on Tuesday, hitting $267.77. 244,351 shares of the stock were exchanged, compared to its average volume of 2,915,517. American Express has a 12 month low of $140.91 and a 12 month high of $276.79. The business has a 50-day moving average of $253.91 and a two-hundred day moving average of $240.57. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. The firm has a market capitalization of $192.61 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 1.48 and a beta of 1.21.

American Express (NYSE:AXP) last posted its earnings results on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.23. The firm had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.89 earnings per share. Sell-side analysts forecast that American Express will post 13.13 EPS for the current fiscal year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.05%. The ex-dividend date is Friday, October 4th. American Express’s dividend payout ratio (DPR) is presently 23.06%.

About American Express

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.